If you hit the jackpotPrev TopicNext Topic

• basha12

  

  Marietta
  United States
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  May 26, 2006
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  May 28, 2006, 9:52 am

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  If I hit the Jackpot, I do not want my name plater all over the newspaper or TV.....I might have some relatives that

  I do not know!
• basha12

  

  Marietta
  United States
  Member #40,055
  May 26, 2006
  18 Posts
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  May 28, 2006, 9:55 am

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  What is lady lucky bring to the table, this week Good Fortune I hope?
• konane

  

  USA
  United States
  Member #1,265
  March 13, 2003
  11,105 Posts
  Online
  May 28, 2006, 10:10 am

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  Quote: Originally posted by basha12 on May 28, 2006

  What is lady lucky bring to the table, this week Good Fortune I hope?

  Welcome to LP!!  Hope you learn lots, win even more!!  Look into some of the Premium features available here which can potentially help pay for themselves.  Have fun and win big!!   

  _________ 

  True story long ago from a Lotto Georgia winner who was asked what he and his wife planned to do with their jackpot win.  Their answer was to buy a double-wide and move to Alabama.  They've remained anonymous because we haven't heard anything from them since.   

  Have fun and the best of luck to everyone!
• delS

  

  md
  United States
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  April 20, 2005
  642 Posts
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  May 28, 2006, 10:23 am

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  Justxploring-

  You have a great idea here! You have given me something to ponder.  If I were to hit one of those $60m - $100m jackpots, I probably would be interested in this idea!  Really!  Never thought along that line!
• Prob988

  

  New Jersey
  United States
  Member #21,205
  September 4, 2005
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  May 28, 2006, 2:07 pm

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  In my state, New Jersey, a press conference can be required to get the winnings.  It says so right in the rules.

  If I were required to do the conference, I would simply do as President Harry Truman's wife (Bess) did when, against her will, she became first lady.  I would say "no comment" as often as is possible.  I would make no promises to anyone, nor do anything that would make me memorable in any way.

  Many (smart) lottery winners remain forgettable, and one never hears of them again.  These are smart people.  As it happens, there are so many big winners today, the public has reached a point of saturation.

  For the mail inquiries about my money, charitable, investments, and so on I would buy a shredder.    I already know who and what I want to support, and I already know how I would like to invest my money.

  I'd leave the country as quickly as possible and pursue my investment strategy, which will include getting as much money as possible into foreign securities. 

   

   

   

   

   

   
• bellyache

  

  United States
  Member #12,618
  March 18, 2005
  2,060 Posts
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  May 28, 2006, 2:21 pm

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  Quote: Originally posted by Prob988 on May 28, 2006

  In my state, New Jersey, a press conference can be required to get the winnings.  It says so right in the rules.

  If I were required to do the conference, I would simply do as President Harry Truman's wife (Bess) did when, against her will, she became first lady.  I would say "no comment" as often as is possible.  I would make no promises to anyone, nor do anything that would make me memorable in any way.

  Many (smart) lottery winners remain forgettable, and one never hears of them again.  These are smart people.  As it happens, there are so many big winners today, the public has reached a point of saturation.

  For the mail inquiries about my money, charitable, investments, and so on I would buy a shredder.    I already know who and what I want to support, and I already know how I would like to invest my money.

  I'd leave the country as quickly as possible and pursue my investment strategy, which will include getting as much money as possible into foreign securities. 

   

   

   

   

   

   

  I think that's what I would do. I would be as boring as possible and not make any promises to anyone. I would probably only say something like I only have plans to invest it. That's it.
• csfb

  

  United States
  Member #15,309
  May 13, 2005
  307 Posts
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  May 31, 2006, 1:00 am

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  Quote: Originally posted by basha12 on May 28, 2006

  If I hit the Jackpot, I do not want my name plater all over the newspaper or TV.....I might have some relatives that

  I do not know!

  
• csfb

  

  United States
  Member #15,309
  May 13, 2005
  307 Posts
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  May 31, 2006, 1:38 am

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  You're welcome, Konane. 

  LLC's and Inc.'s are "persons" for legal intents and purposes, and thus they can be lotto winners, just like natural persons.  If they need to be interviewed by lotto officials, no problem, they either have a designated officer or an authorized representative to take care of that.

  Creating artificial persons is a legal strategy not only to keep one's  identity private, but more important, to manage one's wealth.  One advantage is limiting  one's financial liability exposure to potential lawsuits,  the IRS and other gov't agencies, and to creditors.  Thus, we see rich people creating LLC's, INC.'s and LLP's as they expand their businesses and amass more wealth.

  For example:  If I personally owe the bank $1M, but cannot pay, the bank cannot collect from my  LLC to satisfy my debt, even if my LLC is worth billions. (Caveat - you can't form an LLC just for the primary purpose of hiding your assets from your creditors).

  There are other advantages...

  I better close here lest I get carried away and ramble on.